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Posted on: November 6, 2020

City receives top honors for financial report

GFAO

The City of Bristol, TN has received top honors from the Government Finance Officers Association (GFOA) for demonstrating a “spirit of full disclosure” regarding the City’s annual financial report for the 2018-2019 fiscal year.

The Certificate of Achievement for Excellence in Financial Reporting was established by GFOA in 1945 to encourage state and local governments to prepare transparent financial reports that allow the public to gauge the financial health of the community. The latest award recognizes Bristol’s Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2019 and marks the 17th consecutive year the City has received the honor.

“This award recognizes the outstanding work of Finance Director Tara Musick and the dedicated team that works beside her each day,” said City Manager Bill Sorah. “It also recognizes the extraordinary steps the City takes to share accurate, detailed financial information with our community in an easy-to-understand format.”

Award winners are selected by members of the GFOA professional staff and a committee comprised of those with expertise in public sector financial reporting. They evaluate reports using a long checklist to determine if the information included allows users to better understand the financial condition of the governmental agency, the availability of funds for future use, whether the financial condition has improved or deteriorated from the previous year, and many other factors.

The City’s CAFR for fiscal year 2018-2019 is available online at www.bristoltn.org/CAFR. For additional information, please contact Musick at tmusick@bristoltn.org or (423) 989-5646.

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